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Prasanna Patil
Hey I am on Medial • 1y
Hi guys just watch the movie called 'big short' It is based on housing crisis happened in 2008 The 2008 housing crisis was a significant event that led to the worst global financial crisis since the Great Depression. It was primarily triggered by the bursting of the United States housing bubble, fueled by excessive risk-taking by banks, subprime mortgage lending, and the securitization of these mortgages into complex financial instruments. When home prices began to decline in 2006, it exposed the fragility of the financial system, leading to a chain reaction of foreclosures, bank failures, and a credit crunch. The crisis had far-reaching impacts, including a deep recession, millions of job losses, and widespread foreclosures, affecting economies worldwide But got bit confused by the term like CDO's ,prime loans and all finance stuff Can any finance guys can help me with it
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